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Bank guarantee

Bank guarantee represents the Bank’s obligation to pay the beneficiary a certain amount of money if the principal has not fulfilled or has improperly fulfilled the obligations agreed.

Bank guarantees are governed by the Uniform Guarantee Rules with a payment on demand (ICC Uniform or Demand Guarantees, ICC Publication 758), or are subject to the guarantor’s national legislation.

We are pleased to offer you our services for provision of tools to secure your contractual obligations. Let us assure you that promising cooperation will help you find in us a personal financial adviser able to professionally assess business development opportunities and give valuable recommendations.

Types of guarantees

  • Bank guarantee of offer/tender bank guarantee/bid bond is the Bank’s obligation, by virtue of which the Bank undertakes to the person who organized the tender (bid), to be responsible for fulfilling the Client’s obligation arising from the tender (bid) application, fully or partially jointly with the Client, except as required by the laws of the Republic of Kazakhstan.

The main purpose of issuing a tender guarantee is to participate in a tender/bid, including bids for public procurement.

Eurasian Bank offers both covered bid guarantees (secured by pledge/mortgage) and uncovered bid guarantees (issued against other types of security or non-collateral guarantees, i.e. blank guarantees).

 

  • Performance bond is the Bank’s (Guarantor’s) obligation, by virtue of which the Bank (Guarantor) undertakes to the Debtor’s Creditor (a supplier of goods, works or services) to be responsible for fulfilling this person’s obligation, fully or partially jointly with the Debtor, except as required by the laws of the Republic of Kazakhstan. This guarantee is also called a post-tender guarantee.

Eurasian Bank issues bank guarantees providing for fulfillment of obligations in monetary form. Bank guarantees are issued in tenge and foreign currency, at the request of legal entities or individuals, in compliance with the laws of the Republic of Kazakhstan.

 

  • Advance Payment Guarantee is the Bank’s obligation, by virtue of which the Bank undertakes to another person’s (Client’s) Beneficiary pursuant to the terms of the Contract, concluded between the Beneficiary and the Client, to be responsible for fulfilling the Client’s obligation for compensation of any amount or the amount advanced or paid by the Beneficiary to the Client, fully or partially jointly with the Client, except as required by the laws of the Republic of Kazakhstan.

 

  • Counter-guarantee is the obligation by which the Bank, at the Applicant’s request, appeals to another Bank (Guarantor) to issue a guarantee in favor of the Beneficiary (the Applicant’s counterparty by the contract concluded between them) under its full responsibility (if the guarantee is paid, the Beneficiary undertakes to pay the amount that the Applicant owes the Guarantor).

 

  • Performance bank guarantee (in favor of customs bodies) is the guarantee providing for fulfillment of the applicant’s obligations for customs payments.

 

  • Payment Guarantee is the guarantee providing for the applicant’s payment obligations under the contract.

List of documents

List of documents submitted by legal entities for obtaining a Bank guarantee

List of documents submitted by individuals/IEs for obtaining a Bank guarantee

Application for guarantee issuance

Borrower’s consent to issue a credit report

Borrower’s consent to provide information to the credit bureau

Consent to personal data collection and processing

Corporate Applicant Form

Individual / IE Applicant Form

Download Fees

Do you need a consultation?

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